US challenges Chinese control of African minerals - Chinese firms have controlled copper and cobalt assets for years
The United States is using purchase agreements and state-backed financing to compete with China in the short term in securing supplies of African copper, cobalt and other critical minerals, diplomats said this week. Washington’s focus is on Zambia, Guinea and the Democratic Republic of Congo. The latter accounts for more than 70% of global cobalt supplies and produced about 3.3 million metric tons of copper in 2024.
However, instead of placing American operators in high-risk countries, the US is leaning towards agreements with state-owned Chinese mining companies to bring production, which has so far supplied Chinese processors, to the US.
"We are already seeing US engagement reshaping mineral flows from Africa," said Thomas Scurfield, a market analyst. The US is investing money, he said, but it remains to be seen whether it can compete with China's scale and speed.
Both Washington and Beijing are expected to seek new commitments at the mining event in Cape Town this week.
Chinese firms still control many of the largest copper and cobalt assets in Congo, and have been shipping most of the production to China for refining for more than a decade. Beyond copper and cobalt, Congo is emerging as a supplier of zinc, germanium and gallium.
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